Share Reservation. The Company shall at all times reserve and keep available out of its authorized Common Stock a number of shares equal to at least 3 (three) times the full number of shares of Common Stock issuable upon conversion of all outstanding amounts under this Note; and within 3 (three) Business Days following the receipt by the Company of a Holder’s notice that such minimum number of shares of Common Stock is not so reserved, the Company shall promptly reserve a sufficient number of shares of Common Stock to comply with such requirement. The Company will at all times reserve at least 15,000,000 shares of Common Stock for conversion. The share reservation requirement shall be waived until December 31, 2019.
Appears in 2 contracts
Sources: Convertible Note (MassRoots, Inc.), Convertible Note (MassRoots, Inc.)